Swiss luxury watches lose value as used watches

The secondary market for luxury watches from Rolex, Patek Philippe and Audemars Piguet is experiencing falling prices due to high supply and economic uncertainties.

Despite this trend, certain highly sought-after models are still selling above their retail price. According to analysts at Morgan Stanley and WatchCharts, prices for used Swiss watches have fallen due to economic concerns and fluctuations in the cryptocurrency market.

While market indices are declining overall, a significant number of specific Rolex, Patek Philippe and Audemars Piguet models continue to command prices above retail price, but these models are also showing early signs of weakening in value.

In addition, the WatchCharts Overall Market Index, which tracks 60 Swiss luxury watches from ten brands, has declined for nine consecutive quarters since the second quarter of 2024. This trend particularly benefits Rolex buyers, who have faced supply shortages and waiting lists in the past.

Prices have been declining since the peak in the first quarter of the pandemic in 2022, with a 2.1% decline in the second quarter and a 1.2% decline year-on-year. Morgan Stanley predicts this downward trend will continue throughout the year.